Petersen Auto Museum Selling A Third Of Its Collection

Located in Los Angeles, the Petersen Auto Museum is one of the most well known car museums in the country. But even such a notable institution needs to be refreshed every now and again. As such, the Petersen is currently selling off a third of its 400-vehicle collection to make room for expansion into a new direction for the museum. Some former employees are not elated.
Back in March, the museum began selling off vehicles, including a 1990 Ferrari F40 (sold for $715,000), the very first Bugatti Veyron sold in the US (sold for $924,000), and 1996 Ferrari F50, which pulled an impressive $1.375 million. The vehicles are being sold so that the museum's new owner can take the Petersen in a new direction, and is seeking to add motorcycles and French art deco-style cars. According to Executive Director, Terry Karges, the new vehicles would "breathe new life into the museum."
While this may take the Petersen to the level of world-class museum, some former employees do not agree with the decision. Buddy Pepp retired as executive director last year. According to Pepp, "They have sold a lot of wonderful cars that Bob Petersen was very fond of."
In total, the museum has sold 12 cars, pulling in $8.5 million at Goodings & Co. Auction at Amelia Island. On August 1, the first of an additional 107 cars will be sold at Auctions America in Burbank, CA.
While some are sad to see these cars go, the museum will no doubt add an impressive selection of vehicles worthy of the storied automotive institution.
PHOTOS: See more of the Ferrari F50
Source: LA Times